Amends the Illinois Health Care Facilities Planning Act. Repeals the January 1, 2027 inoperative date affecting a change of ownership among related persons. Amends the Illinois Antitrust Act. Repeals the January 1, 2027 inoperative date affecting notice provisions to the Attorney General before a health care merger or affiliation. Amends provisions requiring health care entities to notify the Attorney General within 30 days before a merger or affiliation to include a "covered transaction" even if the parties to the transaction are not themselves a health care facility or provider organization but own or control, directly or indirectly, one or more of the 2 or more health care facilities or provider organizations that will be under common ownership or contracting affiliation if the transaction is consummated, including if parties to the covered transaction are private equity companies. Defines "private equity company" to mean any company or partnership that collects capital investments from individuals or entities and purchases, as a parent company, at any level of corporate ownership, or through another entity or entities so that the company completely or partially owns or controls, a direct or indirect ownership share of an Illinois health care entity or an out-of-state health care entity that generates $10,000,000 or more in annual revenue from patients residing in this State. Changes notice provisions. Defines terms.